Managed Network Services Market Worth $103.9 Billion by 2030 - Exclusive Report by Meticulous Research®

Managed Network Services Market by Service Type, Organization Size, Deployment Mode, Industry Vertical (BFSI, Retail & E-commerce, IT & Telecommunications, Manufacturing, Government, and Education), and Geography - Global Forecast to 2030


Redding, California, Jan. 11, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, Managed Network Services Market by Service Type, Organization Size, Deployment Mode, Industry Vertical (BFSI, Retail & E-commerce, IT & Telecommunications, Manufacturing, Government, and Education), and Geography - Global Forecast to 2030,’ the managed network services market is projected to reach $103.9 billion by 2030, at a CAGR of 8.1% from 2023 to 2030.
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Managed network services encompass networking applications, functions, and services that enterprises outsource to be remotely operated, monitored, and maintained by managed service providers. Managed network services range from basic network access and transport services such as traditional leased WAN and LAN lines to newer software-defined WAN (SD-WAN) connections and virtual network services. Managed network services are gaining traction among enterprises for their benefits, such as helping control operating costs, maintain a competitive edge, increase productivity, improve operational efficiency, stay proactive against threats, improve the quality of service, and gain quick access to IT professionals.

The growth of this market is driven by the increasing implementation of modern campus networks to accelerate service delivery and the surging demand for managed SD-WAN services and managed network services to increase productivity. However, growing security & compliance concerns may restrain the market’s growth. The rising demand for managed network services among small & medium-sized enterprises and the exponential growth in global IP & cloud traffic are expected to offer significant growth opportunities for the stakeholders in the managed network services market. Furthermore, the need to monitor complex multi-technology physical & virtual networks and obstacles to service providers’ marketing & sales efforts are expected to create challenges for market growth. Additionally, the automation of network monitoring tools and cloud-managed network services are prominent trends in this market.

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The Impact of COVID-19 on the Managed Network Services Market

The COVID-19 pandemic adversely affected most economies around the globe. Preventive measures, such as lockdown and quarantine restrictions, were implemented worldwide to curb the spread of the virus. This negatively impacted several markets, including the managed network services market. The impact of the COVID-19 pandemic on the managed network services market was first felt in early 2020 in China, one of the world's largest producers of endpoint and connected devices, managed network monitoring services, managed network security services, and managed SD-WAN services. China temporarily halted the operations of several managed service providers for a few months in 2020, and restrictions were imposed on the implementation of managed network services, which affected the managed network services market.

However, several managed service providers started focusing on providing uninterrupted support services to their customers during the COVID-19 pandemic. Several industries launched initiatives to bring the managed network services market back on track. In addition, local governments also took several relief steps to mitigate the negative impact of the COVID-19 pandemic. These initiatives are expected to support the recovery of the managed network services market over the forecast period.

The managed network services market is segmented by service type (managed LAN services, managed Wi-Fi services, managed WAN services, managed network security services, managed IP VPN services, managed network monitoring services, managed data network services, managed SD-WAN services, managed NFV services, and other managed network services [infrastructure managed services, cloud-managed network services]), organization size (large enterprises and small & medium-sized enterprises), deployment mode (on-premise deployment and cloud-based deployment), and industry vertical (BFSI, retail & e-commerce, IT & telecommunications, manufacturing, government, education, healthcare, media & entertainment, and other industry verticals [transportation, and energy & utilities]). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on service type, the managed network services market is segmented into managed LAN services, managed Wi-Fi services, managed WAN services, managed network security services, managed IP VPN services, managed network monitoring services, managed data network services, managed SD-WAN services, managed NFV services, and other managed network services. In 2023, the managed network security services segment is expected to account for the largest share of the managed network services market. The large market share of this segment is attributed to the surging demand for intrusion detection & prevention systems and unified threat management systems and the growing need to resolve security issues in expedient and cost-effective processes. Additionally, this segment is projected to register the highest CAGR during the forecast period.

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Based on organization size, the managed network services market is segmented into large enterprises and small & medium-sized enterprises. In 2023, the large enterprises segment is expected to account for the larger share of the managed network services market. The large market share of this segment is attributed to the growing demand for managed network services among large telecommunication service providers, the increasing adoption of managed SD-WAN and managed VPN services among large data centers and campuses, and enterprises’ growing need to outsource their network infrastructure and operations. However, the small & medium-sized enterprises segment is projected to register the higher CAGR during the forecast period.

Based on deployment mode, the managed network services market is segmented into on-premises deployment and cloud-based deployment. In 2023, the on-premise deployment segment is expected to account for the larger share of the managed network services market. The large market share of this segment is attributed to the high acceptance of managed network services among large enterprises, the rising demand for comprehensive security and control solutions, and the increasing deployment of managed network security services across on-premise data centers. However, the cloud-based deployment segment is projected to register the higher CAGR during the forecast period.

Based on industry vertical, the managed network services market is segmented into BFSI, retail & e-commerce, IT & telecommunications, manufacturing, government, education, healthcare, media & entertainment, and other industry verticals. In 2023, the IT & telecommunications segment is expected to account for the largest share of the managed network services market. The large market share of this segment is attributed to the rising need to implement end-to-end managed LAN, WAN, and Wi-Fi services, the increasing need to automate routine workflows and processes of data centers through managed network services, the rising adoption of managed VPN and SD-WAN services among telecommunication data centers, and the growing need to reduce repetitive or mundane tasks, speed up processes, and drive down overheads. However, the BFSI segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by factors such as the growing focus on compliance and information security in the BFSI sector, the increasing demand for automated IT infrastructure across the BFSI sector, the growing demand for cost-effective network monitoring services among BFSI industries, and the growing need to monitor distributed network infrastructure.

Based on geography, the managed network services market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the managed network services market. North America’s large market share is attributed to the region’s established economies, such as the U.S. and Canada, the growing trend of outsourcing network infrastructure operations in these countries, and the advanced IT infrastructure implemented across the region. However, Asia-Pacific is projected to register the highest CAGR during the forecast period due to the huge growth potential in APAC countries, such as China, India, and Japan, the increasing adoption of cloud-based managed network services among small & medium-sized enterprises, and the proliferation of small & medium-sized enterprises across various industry verticals. Furthermore, businesses’ surging need to outsource management functions to cloud & managed services providers is expected to support the growth of this regional market.

Some of the key players operating in the managed network services market are IBM Corporation (U.S.), Cisco Systems Inc. (U.S.), Microsoft Corporation (U.S.), Telefonaktiebolaget LM Ericsson (Sweden), Verizon Communications Inc. (U.S.), Huawei Technologies Co., Ltd. (China), AT & T Inc. (U.S.), Fujitsu Limited (Japan), GTT Communications, Inc. (U.S.), Global Cloud Xchange (U.K.), Sify Technologies (India), Wipro Limited (India), Lumen Technologies (U.S.), T-Systems International GmbH (Germany), and Aryaka Networks, Inc. (U.S.).

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Scope of the Report:

Managed Network Services Market, by Service Type                 

  • Managed LAN Services
  • Managed Wi-Fi Services
  • Managed WAN Services
  • Managed Network Security Services
  • Managed IP VPN Services
  • Managed Network Monitoring Services
  • Managed Data Network Services
  • Managed SD-WAN Services
  • Managed NFV Services
  • Other Managed Network Services

Managed Network Services Market, by Organization Size

  • Large Enterprises
  • Small & Medium-sized Enterprises

Managed Network Services Market, by Deployment Mode

  • On-premise Deployment
  • Cloud-based Deployment

Managed Network Services Market, by Industry Vertical

  • BFSI
  • Retail & E-commerce
  • IT & Telecommunications
  • Manufacturing
  • Government
  • Education
  • Healthcare
  • Media & Entertainment
  • Other Industry Verticals

Managed Network Services Market, by Geography

  • North America
      • U.S.
      • Canada
  • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Rest of Europe
  • Asia-Pacific
      • Japan
      • China
      • India
      • South Korea
      • Rest of Asia-Pacific
  • Latin America
  • Middle East & Africa

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